The other night, some friends and I were batting around predictions for 2020. Mine was that Brazil would come into its own as a major power. It doesn't have the population of China or India, but it has the capacity to lead its continent, a job which has, to this date, gone unfilled.
Of course, I could just be biased. My father is from Rio, and the bulk of my family is still in Brazil. An article from Sunday's paper, however, makes the case with more objective distance:
Once hobbled with high inflation and perennially susceptible to worldwide crises, Brazil now has a vibrant consumer market, investment-grade status for its sovereign debt, vast foreign reserves and an agricultural sector that is vying to supplant that of the United States as the world's most productive.
Brazil's $1.3 trillion economy is bigger than those of India and Russia, and its per-capita income is nearly twice that of China. Recent discoveries by Brazil's state oil company are expected to make the country one of the world's biggest crude producers. An unwieldy bureaucracy and red tape have not slowed foreign investment, which at $45 billion in 2008 is three times as much as it was a decade ago.
Plus, they've got the Olympics in 2016. And nothing ever bad happens after a country hosts the Olympics, right?
Photo credit: Mousse/AFP/Getty.
Posted by: majorteddy | January 4, 2010 12:18 AM | Report abuse
Posted by: bmull | January 4, 2010 12:29 AM | Report abuse
Posted by: endaround | January 4, 2010 12:35 AM | Report abuse
Posted by: Sprezzatura | January 4, 2010 12:36 AM | Report abuse
Posted by: RobT1 | January 4, 2010 10:12 AM | Report abuse
Posted by: AuthorEditor | January 4, 2010 11:28 AM | Report abuse
Posted by: Liz_B | January 4, 2010 3:28 PM | Report abuse
Posted by: RichardHSerlin | January 4, 2010 3:54 PM | Report abuse
The comments to this entry are closed.